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LUMIQ

Category: AI in Fintech

AI-native financial services company building autonomous AI agents (LiteCone platform) for regulated decision-making in banking, insurance, and capital markets. LUMIQ was founded in 2007. The company is led by Shoaib Mohammad. Based in Noida, Uttar Pradesh, India (offices in New Jersey, Singapore, Mumbai, Pune). Team size: 101-500. Total funding raised: $13.5M. Latest round: Series B. Key investors include Bajaj Finserv / Bajaj Alternates, Info Edge Ventures, Season Two Ventures, RedStart Labs.

Founded
2007
Headquarters
Noida, Uttar Pradesh, India (offices in New Jersey, Singapore, Mumbai, Pune)
Team size
101-500
Total funding
$13.5M

Value proposition

Autonomous, auditable AI agents that make regulated financial decisions (not just recommendations) in production — handling underwriting, claims adjudication, credit decisions end-to-end with full auditability and compliance.

Products and solutions

LiteCone (autonomous AI decision platform), LEO (AI underwriter agent for life insurance), emPower Foundation (data ingestion & unification), emPower Pryzm (data observability), Gen AI-based Underwriting Engine, AI/ML data platforms for BFSI

Unique value

LiteCone platform deploys AI agents that read files, apply institution's guidelines, and reach decisions autonomously (not advisory copilots) — escalating only edge cases to humans, with full explainability and audit trail.

Target customer

Banks, insurance companies, and capital markets firms across India, US, and Southeast Asia.

Industries served

Banking, Insurance, Capital Markets, Lending, Wealth Management

Technology advantage

AI agents that make auditable, compliant decisions in production for regulated financial services — turning real FSI roles (underwriter, credit adjudicator, claims handler) into AI agents. Deep domain expertise with 40+ global implementations. AWS Advanced Consulting Partner (Data & Analytics, Gen AI, ML, DevOps competencies) and Google Cloud Partner. ISO 27001, SOC 2 Type 2, HIPAA, CCPA compliant.

How they differentiate

Only company deploying AI agents that make autonomous, auditable decisions (not recommendations) in regulated financial services production environments — 75-80% of underwriting cases handled zero-touch at leading life insurer, reducing TAT from days to minutes.

Main competitors

Databricks, Palantir, Altair, Goals101, DataSeers

Key partnerships

AWS (Advanced Consulting Partner with multiple competencies), Google Cloud Partner

Notable customers

HDFC Life, HDFC ERGO, CLIX, TVS Credit, Leading Indian private sector banks and life insurers

Major milestones

2007: Founded, Aug 2021: $2M Seed round led by Info Edge Ventures, Oct 2022: $5.5M Series A led by Info Edge Ventures with Season Two Ventures & RedStart Labs, Jun 2026: ₹50 Cr ($5.9M) Pre-Series B led by Bajaj Finserv with Info Edge Ventures participation, Launched LiteCone AI decision platform, LEO agent handles 75-80% underwriting decisions at leading life insurer

Growth metrics

350+ employees; 40+ global implementations; millions of decisions processed annually; offices in India (Noida HQ, Mumbai, Pune), US (New Jersey), Singapore

Market positioning

Category leader in autonomous AI decisioning for BFSI — moving beyond AI copilots to AI that decides, with production deployments at scale. Competes against general data platforms (Databricks, Palantir) and niche BFSI analytics players.

Geographic focus

India (primary); United States; Southeast Asia (Singapore)

About Shoaib Mohammad

Ex-Co-founder of Retive Solutions (startup); Engagement Manager at vMoksha Technologies; MBA from IIM Ahmedabad; also studied at Warwick Business School and NIT Kurukshetra.

Official website: